Don’t remit excessive cash taxes to the IRS, especially if you’re a Lubbock, TX resident. Real estate investors should consult an expert Real Estate CPA skilled in honing tax strategies, diminishing cash tax liabilities, and planning for future tax years based on your unique income setup. This professional should be abreast of the latest legislative changes in tax law to amplify your after-tax income and reduce your cash tax for both the current and subsequent tax years.

Looking to hire a Real Estate CPA? Look for one experienced in:

Distinct Tax Arrangements in Real Estate Speculation

• Legal entity tax planning segmented by activity.
• Tax strategies for General Partners and Limited Partners in property investment.
• Control of tax obligations at the entity level.
• Streamlined tax planning across multiple real estate activities.

Now more than ever with the news below.

The IRS announced that is increasing its scrutiny of "high-income earners & partnerships". Targeting those with Real Estate activities & complex partnership structures. Also, they will rely on the help of AI for their examinations of these. New world for the IRS & taxpayers😅

— Johan G. (@aftertaxcash) September 11, 2023

Strategies for Tax-Efficient Real Estate Sales

• Forecast potential tax liabilities and devise plans to reduce them.
• Recommend tax-deferral methods such as 1031 exchanges and Qualified Opportunity Funds (OZ).
• Guide you through a tax-advantageous exit strategy for your real estate investment.

Identify Your Real Estate Tax Liabilities

• Categorizing Passive and Non-Passive Activities for Taxation.
• Methods to Minimize Tax Exposure in Real Estate.
• Qualifying for Real Estate Professional Status (REPS) for Tax Gains.
• Strategic Tax Considerations for Short-term and Long-term Rentals.
• Electing for Bonus Depreciation on Taxable Assets.
• Applying Cost Segregation for Tax Depreciation Maximization.

If your current tax accountant or CPA has failed to bring up these significant tax strategies, it’s a red flag that they may not have the expertise in real estate tax needed to optimize your tax situation.

Again, do not overpay income taxes. Find an experienced Real Estate CPA that can help you minimize cash taxes.

My firm, JG CPA & Advisory, where we specialize in real estate taxes is currently accepting new clients for tax year 2023. If you would be interested in consultation or our services, complete the webform here. Or our short form on our website. We will contact you and set-up a meeting with you shortly after submission.